In This Issue:
First I would like to take this time to offer our loyal clients a late Happy Thanksgiving and wish everybody an excellent holiday season! There are several important tasks our clients do during this time of year (when their competition is on vacation) that help them be more successful, and the first is simply working when others are not. The Default Research staff will continue generating the freshest foreclosure lists available and, therefore, our hard working clients will continue to be the first to approach homeowners in distress. As your competition slows their productivity, be out meeting families and stressing how you can help them make this a holiday season one to celebrate as opposed to facing foreclosure alone.
A couple of other ideas are to take the time to send thank you notes to all of your current and former clients explaining how much you appreciated their business and also appreciate any referrals. Or, give yourself a big thank you and reinvest in your business by taking more classes or reading books on real estate. Finally, get ready for next year by setting new goals for you and your company (one of your goals can be joining the Default Research social networks at www.defaultresearch.com).
After all of your meeting new families, sharpening your business, and setting goals, don’t forget to read the Default Research blog too. This month we took you on a ride to the hottest commercial properties in the country and to the warmest places in the country where “winter birds” are flocking and foreclosed properties can be turned into rental spots.
As you can tell from this introduction, there is no slowing down in productivity here at Default Research. Of course we will have our holiday fun and New Year’s cheer, but we will also make sure to take advantage of this once a year opportunity to work while we know the competition is not.
THE WEATHER OUTSIDE IS FRIGHTFUL…
It is that time of year again – for gift giving, holiday cheer, and the snow bird taking off toward warmer climates! When they can, many Americans follow the path of migrating birds and take themselves away from the colder areas that are their summer residences to the warmer climates of Florida and Arizona, as well as other “hot-spots” in the country. If you are a property owner in any of these areas, this is a great time to turn your foreclosed property into a rental home for the winter months and warm up your bank account in the process!
Just ask American Express if people are spending. The card company reports that it saw an “absolute-dollar” spending increase this month. That term indicates the willingness of the public to pay for a service, and though impossible to measure precisely, designates an estimated accepted price for a given product. So, with the economy heating up and the willingness of people to pay to escape the cold (AmEx of course hopes you use their card), more of the winter birds will be migrating, and the savvy investor with property in these areas will begin advertising, showcasing, or otherwise letting those in the colder climates know that now is the time to buy another “nest” while prices are still low.
COMMERCIAL BREAK; Time to Make Money
Whether or not you have considered growing your business through commercial foreclosures, now is certainly the time to begin! Using Default Research’s state of the art lists, you can easily separate the commercial properties in your area from the residential properties, and you are on your way to a Commercial Adventure!
Here are the top five counties with the current highest commercial foreclosure rate.
- Los Angeles, CA
- Miami-Dade, FL
- Maricopa, AZ
- Cook, IL
- San Bernardino, CA
It is important to remember that commercial properties are not bought or sold like residential properties, and they can be a long term investment for you. They are rentable to companies who do not want to buy a property in the current climate, and can be bought low and sold high at a later time when the market has regained its normal behavior. Also, commercial properties have the potential of selling for remarkably less as a foreclosure than they would if they were sold on the conventional real estate market.
This commercial break is over for now – let’s go make some commercial deals!